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VAT is one of those things that often feels straightforward… right up until it suddenly isn’t. Many people register for VAT thinking it’s just a case of adding 20% to invoices and sending HMRC a return every few months. In reality, VAT has a habit of catching people out especially when you’re new to it or juggling everything else that comes with running a business. The good news? Most VAT mistakes are very common, very fixable, and very avoidable once you know what to look ou

If the words “Self Assessment”  trigger a mild sense of panic, you’re not alone. Every January, thousands of people promise themselves they’ll “do it earlier next year”… and then find themselves staring at the self assessment deadline wondering where the time went. So, with 31 January 2026 approaching for the 2024–25 tax year, now is a very good moment to get clear on what’s required, who needs to submit a return, and what actually needs pulling together. No scare tactics. No

It’s the start of a new year, which feels like a good time to clear a few things out. Old emails, half-finished to-do lists and while we’re at it, some of the accounting jargon that gets thrown around as if everyone automatically understands it. If you’ve ever nodded along while your accountant mentioned accruals , trial balances , or DLA , then quietly wondered if you should Google it later, this blog is for you. You don’t need to become an accountant. You just need enough

Success is one of those words we all think we understand… until we stop and actually look at it. It tends to be measured in numbers. Turnover, number of clients, bonuses, growth, targets hit, targets smashed. Bigger figures, better results, job done. To be clear, there’s nothing wrong with that. Those things matter. They pay the bills, create security, and keep businesses moving. Over time, I’ve realised they’re only part of the picture. As I’ve got older, and especially as I

Christmas is the season of giving……unless you’re HMRC, in which case it’s the season of giving rules  about giving. Every year, small business owners ask the same questions: “Can I buy staff Christmas gifts?” “Can I send clients a bottle of wine?” “Are gifts tax-deductible?” “What about VAT?” “Can my limited company buy me  a present?” So let’s unwrap the rules around festive gifting for staff, clients, suppliers, directors, sole traders, and everyone in between with zero jar

It’s that time of year when Christmas lights twinkle, Michael Bublé reappears from hibernation, and business owners across the UK ask the same question: “Can I claim the work Christmas party on the business?” The answer is…Yes! Well, sometimes. It depends who’s coming, how much you’re spending, what type of business you have, and crucially whether HMRC thinks you’ve been naughty or nice. Grab a mince pie and let’s unwrap the rules around staff parties, clients, suppliers, pa

If you’ve ever wondered whether you’re an Owner, Director, Founder, CEO… or all of the above depending on your mood, you’re definitely not alone. Business titles can be confusing, especially when you’re running a small business and wearing every hat from marketing to accounts to chief tea-maker. Different titles mean different things, and some have specific legal definitions that aren’t always obvious. This week, we’re breaking down the most common business titles, what they

If you buy and sell second-hand items, whether that’s cars, jewellery, antiques, collectables, or even the bits you flip on Vinted, you might have stumbled across something in HMRC’s rulebook called the VAT Margin Scheme. If you’re first thought is “Absolutely not, that sounds complicated”… Stick with me, because the margin scheme can genuinely save you money, keep you compliant, and stop you from paying VAT you don’t actually owe. Let’s break it down. So, what is the VAT Mar

If you’ve ever poked around your accounting software, spotted something called a Balance Sheet , and immediately clicked away… you’re in good company. For a lot of small business owners, the balance sheet feels like the most confusing report of the bunch. A mysterious list of numbers that seems to have nothing to do with the day-to-day running of your business and might require mental gymnastics to comprehend. Once you understand what it’s actually showing you, the balance sh

Chasing unpaid invoices isn’t anyone’s idea of fun. Whether it’s sending a gentle reminder, following up on a late payment, or wondering if that invoice got lost in someone’s inbox, it can be stressful. But here’s the part many small business owners don’t always realise: effective credit control can make your cash flow more predictable, save you time, and reduce stress. Let’s break down what credit control is, how to do it, the incentives that help, and how professional suppo

Written by Kirsty Fox The Autumn Budget is almost upon us and while none of us have a crystal ball (though it would make bookkeeping easier), it’s a good moment for sole traders and small business owners to take stock and make sure everything’s in good financial order. With public finances under pressure, we’re not expecting major tax fireworks this time around. Instead, it’s likely we’ll see quiet tweaks and frozen thresholds, the kind of changes that don’t make headlines bu

If you’ve ever opened your accounting software, spotted something called a Profit & Loss report , and quietly backed away… you’re not alone. For many small business owners, the P&L (as it’s often called) feels like a mysterious spreadsheet full of numbers designed to make your eyes glaze over. But don’t panic, it’s actually one of the most useful tools you have. Once you understand what it’s telling you, your Profit & Loss report becomes less of a maths test and more of a bus

If you employ staff, you’ve probably heard about auto-enrolment and if the phrase makes you sigh or quietly roll your eyes, you’re not alone. It’s one of those things every employer has to deal with but few truly enjoy. While pensions might not be the most exciting part of running a business, getting them right is vital. Auto-enrolment isn’t optional, and missing deadlines can land you in hot water with The Pensions Regulator. Let’s break it down: what auto-enrolment really m

Of all the questions we get asked, this one might just top the list: “Can I claim for my clothes through the business?” We get it. You...

The short answer: yes, you really do need employment policies and procedures. It might sound like another layer of paperwork, but...

Donating to charity feels good. Whether it’s helping the local hospice, sponsoring your mate’s marathon run, or supporting causes close...

When most small business owners or sole traders think about finishing the year’s accounts, they picture printing reports from their...

Accounting isn’t just about counting beans — it’s also about when you count them. For small business owners and sole traders, one of the...

“Capital items.” It sounds like something you’d hear in a boardroom meeting, but in reality it’s just the technical term for the bigger,...

Running a small business or working for yourself comes with plenty of challenges – keeping on top of records, meeting deadlines, and...